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Israeli Developers Find a New Holy Land in NYC

The Forward examines the growing NYC presence of Israeli developers, most notably new Plaza owner Elad Properties and Lev Leviev's Africa-Israel Investments. Despite tussles over plans at the Plaza and in Fort Greene, where Leviev and Shaya Boymelgreen wanted to build a hotel instead of a new arena, the Israelis are finding the market to their liking. "In Israel, when you start a project of 100 units, you will be happy if you sell it in two years," says Africa-Israel chief economist Dan Avidan. "In New York, we sell it in two weeks."
· Wealthy Israelis Buying Up Swank New York Real Estate [Forward]